Forex Daily Podcast

Kind of ugly corrective patterns on the currencies in the past day. We are hoping that the patterns become clearer today. We continue to favor a stronger USD across the board overall, although we may be stuck in a range for the next day or two. We expect the EUR to move lower once this correction is complete, but it's just been ugly for the past day. The EUR currently trades at 1.1927. The GBP should be moving to the 1.7200 level and below although it's undecided if it wants to run higher here or just be stuck in a range. The GBP currently trades at 1.7389. The CHF may have completed it's correction at 1.3060 and started it's next move up. It needs to gain some speed if that is true. The CHF currently trades at 1.3103. Although the JPY pushed up into our target area yesterday, this uptrend is not complete. You've got a high probability trade setup on an up trade with a stop just below 117.08. Alternatively, If the JPY drops below this level then this correction is a zig-zag which is a 5 wave mov